Latest news with #RM1.48
The Sun
2 days ago
- The Sun
Kelantan customs seize 1.72 mln sticks of cigarettes in Kota Bharu
KOTA BHARU: The Kelantan Customs Department seized more than 1.72 million contraband cigarettes of various types, worth a total of RM1.48 million, from a house in Kampung Babong, here on May 7. Its director, Wan Jamal Abdul Salam Wan Long, said the raid by members of the Kota Bharu enforcement branch's operations team, at 10:30 am, resulted in the seizure of 1.72 million cigarettes from the house and the boot of a Toyota Inova at the location. He said the modus operandi was to use the rented premises as a place to store contraband cigarettes before distributing them to customers with the vehicle. 'The total value of the seized cigarettes is RM1.48 million, including tax, and the case is being investigated under Section 135(1)(e) and Section 135(1)(d) of the Customs Act 1967. 'Customs urge the public to help combat smuggling by providing information regarding any smuggling activities,' he said in a statement today.
The Sun
2 days ago
- The Sun
1.72 mln sticks of cigarettes seized in Kota Bharu
KOTA BHARU: The Kelantan Customs Department seized more than 1.72 million contraband cigarettes of various types, worth a total of RM1.48 million, from a house in Kampung Babong, here on May 7. Its director, Wan Jamal Abdul Salam Wan Long, said the raid by members of the Kota Bharu enforcement branch's operations team, at 10:30 am, resulted in the seizure of 1.72 million cigarettes from the house and the boot of a Toyota Inova at the location. He said the modus operandi was to use the rented premises as a place to store contraband cigarettes before distributing them to customers with the vehicle. 'The total value of the seized cigarettes is RM1.48 million, including tax, and the case is being investigated under Section 135(1)(e) and Section 135(1)(d) of the Customs Act 1967. 'Customs urge the public to help combat smuggling by providing information regarding any smuggling activities,' he said in a statement today.
New Straits Times
2 days ago
- New Straits Times
Kelantan Customs seize RM1.48 million worth of smuggled cigarettes
KOTA BARU: The Kelantan Customs Department seized more than 1.72 million sticks of various types of cigarettes, with a total value of RM1.48 million, believed to have been smuggled into the country last month. Acting on public tips and intelligence, a team from the department's enforcement unit raided a house in Kampung Babong here on May 7 and made the seizure. State Customs Department director Wan Jamal Abdul Salam Wan Long said preliminary investigations showed that the syndicate's modus operandi involved using a rented house as a storage site for the smuggled cigarettes before distributing them to customers. "The total value of the seized cigarettes amounts to RM1.48 million, including taxes, and the case is being investigated under Section 135(1)(e) and Section 135(1)(d) of the Customs Act 1967," he said in a statement issued here today. He also urged the public to assist the department in combating smuggling crimes, especially those involving cigarettes, liquor, fireworks, drugs, vehicles, and other items. "At the same time, we advise the community not to get involved in such activities. "Smuggling not only causes losses to the country in terms of revenue leakage but also poses threats to national security and public welfare," he added.
New Straits Times
6 days ago
- Business
- New Straits Times
RHB Bank's 1Q profit rises to RM750.03mil
KUALA LUMPUR: RHB Bank Bhd posted a higher net profit of RM750.03 million for the first quarter ended March 31, 2025 (1Q 2025) compared with RM730.17 million in the same period last year. The year-on-year (y-o-y) improvement was mainly due to higher net funding income and lower allowances for credit losses, offset by lower non-fund-based income, higher tax expense, higher operating expenses and higher share of loss in associates. Revenue, however, slid to RM4.39 billion from RM4.40 billion in 1Q 2024. In a filing with Bursa Malaysia today, RHB Bank said net fund-based income increased by 7.3 per cent to RM1.48 billion y-o-y on the back of gross loans and financing growth of 6.3 per cent. It added that the group's gross loans and financing grew by 6.3 per cent y-o-y to RM239.2 billion, mainly supported by growth in mortgage, corporate, commercial and auto finance. RHB Banking Group's group managing director and group chief executive officer, Datuk Mohd Rashid Mohamad, said the company sustained its earnings growth momentum in the first quarter, underpinned by solid fundamentals and early traction from the group's three-year PROGRESS27 strategic roadmap. "Our cost optimisation efforts are beginning to deliver results, enabling us to contain expenses while driving growth in key segments. "At the same time, our continued focus on asset quality has led to a reduction in credit cost. We remained disciplined in execution, strengthening our core capabilities, driving operational excellence, and unlocking new growth opportunities," he said. On outlook, the group maintained a cautious stance amidst evolving macroeconomic conditions shaped by interest rate movements and global trade dynamics. "The recent reduction in the statutory reserve requirement by Bank Negara Malaysia is expected to provide funding flexibility in the quarters ahead. "With focused execution priorities, from simplifying customer journeys to advancing our sustainability ambitions, we are well-positioned to deliver near-term value while unlocking long-term value for all stakeholders," he added.
New Straits Times
21-05-2025
- Business
- New Straits Times
SP Setia's Q1 earnings dip 13pct on softer land sales, overseas slowdown
KUALA LUMPUR: SP Setia Bhd's net profit for the first quarter ended March 31, 2025, fell 13 per cent to RM67.02 million from RM77.33 million a year earlier, as lower land sales and reduced contributions from its international operations weighed on performance. Revenue for the quarter dropped 48 per cent to RM770.70 million from RM1.48 billion a year earlier, the group said in a filing with Bursa Malaysia. "This decline is primarily due to lower revenue from land sales and contributions from Australia and Vietnam following the substantial handovers of completed projects in 2024. "Additionally, domestic property development revenue in the current quarter was also lower," it added. Group president and chief executive officer Datuk Choong Kai Wai said the quarter was marked by slower overseas performance but noted resilience in key domestic corridors. "Our local sales continue to gain traction, led by strong demand in the Central and Southern regions. We remain confident in achieving our RM4.8 billion sales target this year," he said. Pre-tax profit declined to RM141.47 million from RM181.20 million, in line with the lower revenue, with land sale contributions easing to RM52 million from RM64 million in the same quarter last year. Despite the topline contraction, earnings from the group's investment properties and hotel operations grew, helping to cushion the impact. "Pre-tax for the quarter improved year-on-year mainly due to higher contributions from investment properties and hotel operations," the group said. SP Setia booked new sales of RM718 million in the quarter, with local projects accounting for RM489 million or 68 per cent. International sales, largely from Australia and Vietnam, made up RM229 million. Choong said the group would maintain its strategic focus on township developments and land monetisation to drive growth. "We are progressing steadily with our RM5.1 billion planned launches in property development and RM300 million in industrial developments," he added. As of end-March, the group held unbilled sales of RM3.8 billion across 42 ongoing projects. Its land bank stood at 5,364 acres with a remaining effective gross development value of RM120.1 billion. No interim dividend was declared for the quarter.
